Happened across this story via Yahoo news, and I pass it along because it seems like a really good opportunity to use the internet for a godly purpose for once: allowing the citizens of the “wealthy” nations to directly help better the lot of the citizens of “poor” nations. I can’t call it almsgiving exactly: you’re extending a loan of as little as $25, and have a 95% chance of having it paid back. So you probably wouldn’t lose whatever money you put into it — you would just allow the beneficence that God has given to do some good somewhere in the world for a time. It sounds like something I want to try.

Bottom line: a married couple plus one salesguy have started Kiva, which allows ordinary people to participate in micro-finance in the poorer nations of the world for as little as $25. So you might participate in loaning a total of $850 to someone in Nairobi who wants to open a shop. He keeps a journal and tells you how the money is spent. He also pays back the loan.

The video at the above link has a good brief synopsis. Here’s another one from PBS’ Frontline:

So is there a down side? Well, I don’t think it’s out of line for one of the commenters on the Yahoo page to mention that Kiva must take some part of the loan for their costs. Discriminating do-gooders might want to investigate just how much goes back to them, but given the large number of loans they’re overseeing, I wouldn’t think we’re talking about more than pennies on the dollar. Personally, I wouldn’t begrudge them that.

Of a little more concern is another commenter’s opinion that those receiving the loans would probably eventually learn how to scam the system. Unfortunately, I think he might be right about that. All the more reason, I suppose, why I’d rather get involved now, when this is a new idea enacted by a small organization. My problem with the Red Cross, Feed the Children and other huge philanthropic organizations is that politics both in the organization and in the country of the intended beneficiaries can mar the good the donations might do. I hate being a cynic, but that’s just the way it seems to go. Once the Red Cross got to be enormous, part of their efforts had to go toward sustaining the Red Cross. And once the tin-pot dictator of Banana-Republic-Land figures out that millions are coming from these organizations, he’s not going to let them in without taking the lion’s share. It’s an ugly world that way.

Anyway, Kiva sounds like something a cut above. I’ll report back how it goes.